Institutional Players will Trigger the Next Bull Market

Cryptocurrency and blockchain
adoption has grown dramatically. There is an increase in the participation of
governments and institutional players in the blockchain and cryptocurrency
space. This is indicative of the
maturity level of the blockchain and the cryptocurrency space.

Michael Novogratz recently stated
that the institutional players would trigger the next bull market. Several
institutions were seen getting involved in the cryptocurrency market over the
past week.

PwC Luxembourg will be accepting
Bitcoin payments from October 01, 2019.
The firm has decided to take cryptocurrency payments as a part of their
commitment to the needs of clients in a way supporting the cryptocurrency
industry.

HSBC has used the blockchain
platform to issue the letter of credit.
The blockchain technology will reduce transaction times and costs. I am
eventually providing for a secure and transparent account of contracts related
to financing.

Japanese regulator has granted
cryptocurrency exchange license to LINE, the Japanese messaging giant.

David Paul, Minister in
Assistance to the President and Environment of the Marshall Islands, stated
that they would be issuing the SOV thereby making the Marshallese Monetary Policy
independent. Of note, they are currently
using the USD.

News about a
cryptocurrency-enabled Samsung phone is doing the rounds. South Korean tech giant Kakao Corp. will be
issuing their affiliate cryptocurrency KLAY directly to their Samsung smartphone
users.

Such developments from the
institutional front will surely bring in more people into the cryptocurrency
space, thereby, simplifying the usage of digital assets.

High remittances in developed
countries facilitate the demand for cryptocurrencies, thereby increasing the
fluctuations in monetary regulations.
This further leads to the growth in venture capital investments. Thus,
increasing awareness among investors in emerging nations.

The increasing growth of Ethereum, Ripple, and Bitcoin Cash has led to a significant
increase in the industry. Europe has a vast consumer base. The legalization of the cryptocurrency in
several countries, coupled with improved internet penetration has supplemented
the growth of cryptocurrencies in the region.

There is
widespread concern about whether there are still profits with cryptocurrency
mining. It is like spending a lot of
money to make a little money. Several
Altcoins are not worth mining as they are no longer what they used to be. There is a “low-to-no profitability”
issue with cryptocurrencies.

When it
comes to adopting contactless payment system, America is lagging. People continue to prefer cash payments than
card payments. They tend to believe that cash is faster. Institutional investors continue to flood
into the crypto markets, though.

About The Author

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche.